CHART: The European Stock Market Is Not Europe

In the U.S., we hear quite frequently that the S&P 500 and the U.S. economy are not the same thing. This largely has to do with the fact that American companies conduct around half of their business outside of the U.S.

A very similar argument can be made about Europe. Indeed, while the developed parts of Europe struggle to pull out of recession, those parts only account for 46.4% of European company revenues.